Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking US rig count added to upward price pressure.
Brent crude futures climbed 39 cents, or 0.5 per cent, to $85.82 a barrel at 0759 GMT. US crude futures gained 40 cents, or 0.5 per cent, to $81.03 per barrel.
Both benchmarks fell less than 1 per cent last week versus the previous week. A stronger US dollar, which rose about 1 per cent over the last week, has kept a lid on prices.
